The social networks Twenty and Mappen focused on young people are reportedly joining together under the brand name Twenty.
The news regarding the merger doesn't come as a surprise to many as the two startups have been working closely together for over 9 months.
The two platforms will tap into each other’s strengths to boost their customer base and roll out new services.
Founded this year by Diesel Peltz, Jared Allgood, Jayson Ahlstrom, and Mark French, Twenty is a social networking platform that enables young people to know which of their friends are around, their plans, discover nearby events, create events and invite friends for the event.
Privacy has been a big sign of worry when it comes to social networking sites. Keeping this in prime focus, the platform enables users to control what kind of information they choose to share and what not to. Old events and status updates of the users are deleted automatically.
The startup claims that its goal is to drive the human connection by creating opportunities to meet and interact. Twenty already has partnered with famed event organizations including Live Nation, Endeavor, Roc Nation, TAO Group, among many others.
Twenty’s partnered organizations collectively produce over 10,000 events a year, witnessing more than 100 million audiences.
Mappen, touted as Instagram for children under 13, allows its young users to share real-time updates of what they are doing and where they are doing it.
They can create events and invite their friends to join them. The app encourages kids to come out of their houses and engage in social interactions.
Diesel Peltz, CEO of Twenty, will lead the new company. While the company has not come up with any business model yet, Peltz revealed that the company was working to change the revenue model.
The company plans to draw revenue from event partnerships as opposed to the current ad revenue model.
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